10NO G-i SPECEN $6210000
UNITED STATESOF AMERICA
KODIAK ISLAND BOROUGH ALASKA
GENERAL OBLIGATION SCHOOL BOND 2015 SERIES
REGISTERED OWNER ALASKA MUNICIPAL BOND BANK
PRINCIPAL AMOUNT SIX MILLION TWO HUNDRED TENTHOUSAND AND
NO/i00 DOLLARS
The Kodiak Island Borough the Borough municipal corporation of the State
of Alaska hereby acknowledges itselfto owe and for value received promises to pay to
the Registered Owner identified above or its registered assigns the principal amount
identified above in the following installments on each of the following years and to pay
interest on such installments from the date hereof payable on April 2016 and
semiannually thereafter on October and April of each year at the rates per annum
as follows
Year Principal Interest Year Principal Interest
October Installment Rate October Installment Rate
2016 $195000 2.00%2026 $305000 5.00%
2017 200000 2.00 2027 320000 5.00
2018 205000 4.00 2028 335000 5.00
2019 215000 5.00 2029 355000 5.00
2020 225000 5.00 2030 370000 4.00
2021 240000 5.00 2031 390000 5.25
2022 250000 5.00 2032 410000 5.25
2023 265000 5.00 2033 430000 5.25
2024 275000 5.00 2034 455000 5.25
2025 290000 5.00 2035 480000 5.25
When and if this Bond is owned by theAlaska Municipal BondBank or
Financial Institution payment of principal and interestshall be made as provided in the
Loan Agreement between the BondBank orFinancial Institution and the Borough the
Loan Agreement When and if this Bond is not owned by the BondBank or
Financial Institution installments of principal of and interest on this Bond shall be paid
by check or draft mailed by first class mail to the Registered Owner as of theclose of
business on the 15th day of the month before each installment payment date provided
that the final installment of principal of and interest on this Bond shall be payable upon
presentation and surrender of this Bond by the Registered Owner at the office of the
i466908
Registrar Interest will be computed on the basis of 360-day year consisting of twelve
30-day months Both principal of and interest on this Bond are payable in lawful money
of theUnitedStates of America which on the respective dates of payment thereof shall
be legal tender for the payment of public and private debts
This Bond is one of the General Obligation School Bonds of theKodiak Island
Borough Alaska of like tenor and effect except as tointerest rate serial number right
of redemption or prepayment and maturity and constituting Bonds authorized for the
purpose of paying thecost of school and related capital improvements in the Borough
and is issuedunderResolution No FY2016-05 of the Borough entitled
RESOLUTIONOFTHE KODIAK ISLAND BOROUGH ASSEMBLY
AUTHORIZING THE BOROUGH TO ISSUE GENERAL OBLIGATION
SCHOOLBONDS IN THE PRINCIPAL AMOUNT OFNOT TO EXCEED
$8000000 TO PROVIDE FUNDS FOR SCHOOL ANDRELATED
CAPITAL IMPROVEMENTS IN THE BOROUGH ANDTOPAYCOSTS
OF ISSUING THE BONDS FIXING CERTAINDETAILS OF SUCH
BONDS AUTHORIZING THEIR SALE AND PROVIDING FOR
RELATEDMATTERS
the Resolution
Installments of principal of this Bond maturing on and after October 2025 shall
be subject to prepayment on and after April 2025 at the option of the Borough
subject to any applicable provisions of the Loan Agreement in such principal amounts
and from such maturities asthe Borough may determine and by lot within maturity at
redemption price equal to the principal amount to be prepaid plus accrued interest to
thedate of prepayment
This Bond is transferable as provided in the Resolution only upon the Bond
Register of the Borough and ii upon surrender of this Bond together withwritten
instrument of transfer duly executed by the Registered Owner or the duly authorized
attorney of the Registered Owner and thereupon new fully registered Bond or Bonds
in the same aggregate principal amountand maturity shall be issued to the transferee in
exchange therefor as provided in the Resolution and upon the payment of charges if
any as therein prescribed The Borough may treat and considerthe person in whose
name this Bond is registered as the absolute owner hereof for the purpose of receiving
payment of or on account of the principal or redemption price if any hereof and
interest due hereon and for all other purposes whatsoever
This Bond is general obligation of theKodiak Island Borough and the full faith
and credit of the Borough are pledged for the payment of the principal of and interest on
this Bond as the same shall become due
ITIS HEREBY CERTIFIED AND RECITED that all conditions acts or things
required by the constitution or statutes of theState of Alaska to exist to have happened
51466908.1
or to have been performedprecedent toor in theissuance of this Bond exist have
happened andhave been performed and that the series of Bonds of which this is one
together with all otherindebtedness ofthe Borough is within every debt and other limit
prescribed by such constitutionor statutes
IN WITNESS WHEREOF THE KODIAKISLAND BOROUGH ALASKA has
caused this Bond to be signed inits name and on its behalf by the manual or facsimile
signature of its Mayor and its corporate seal or facsimile thereof to be impressed or
otherwise reproduced hereon and attested by the manual or facsimile signature of its
Clerk all as of the 16th day of September 2015
KODIAKISLAND ROUGH
BorougMayor
ATTEST
Borough Clerk
51466908.1